KNOT Offshore Partners (NYSE:KNOP) Downgraded to Hold Rating by Fearnley Fonds

Fearnley Fonds cut shares of KNOT Offshore Partners (NYSE:KNOP) from a strong-buy rating to a hold rating in a report published on Monday morning,Zacks.com reports.

KNOP has been the topic of a number of other reports. B. Riley lowered KNOT Offshore Partners from a “strong-buy” rating to a “neutral” rating in a report on Monday. Wall Street Zen raised KNOT Offshore Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday. Zacks Research raised KNOT Offshore Partners to a “hold” rating in a research note on Monday, August 11th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of KNOT Offshore Partners in a research note on Wednesday, October 8th. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, KNOT Offshore Partners currently has an average rating of “Hold”.

KNOT Offshore Partners Price Performance

Shares of KNOP opened at $9.91 on Monday. The firm has a market capitalization of $339.88 million, a price-to-earnings ratio of 10.01 and a beta of -0.03. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.42 and a current ratio of 0.43. KNOT Offshore Partners has a one year low of $5.28 and a one year high of $10.00. The stock’s fifty day moving average is $8.72 and its 200-day moving average is $7.44.

KNOT Offshore Partners (NYSE:KNOP) last issued its quarterly earnings results on Thursday, September 25th. The shipping company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. The company had revenue of $87.06 million for the quarter, compared to analyst estimates of $81.17 million. KNOT Offshore Partners had a return on equity of 5.58% and a net margin of 10.00%. Equities analysts anticipate that KNOT Offshore Partners will post 0.12 EPS for the current year.

KNOT Offshore Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 6th. Investors of record on Monday, October 27th will be given a $0.026 dividend. The ex-dividend date is Monday, October 27th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.0%. KNOT Offshore Partners’s dividend payout ratio (DPR) is 10.10%.

Hedge Funds Weigh In On KNOT Offshore Partners

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. FNY Investment Advisers LLC boosted its position in shares of KNOT Offshore Partners by 2.4% in the 2nd quarter. FNY Investment Advisers LLC now owns 143,420 shares of the shipping company’s stock valued at $897,000 after purchasing an additional 3,340 shares during the period. Trexquant Investment LP grew its position in KNOT Offshore Partners by 26.1% during the 1st quarter. Trexquant Investment LP now owns 47,842 shares of the shipping company’s stock worth $334,000 after purchasing an additional 9,904 shares in the last quarter. Acadian Asset Management LLC purchased a new position in KNOT Offshore Partners during the 1st quarter worth approximately $130,000. Osaic Holdings Inc. grew its position in KNOT Offshore Partners by 220.3% during the 2nd quarter. Osaic Holdings Inc. now owns 16,557 shares of the shipping company’s stock worth $104,000 after purchasing an additional 11,388 shares in the last quarter. Finally, Occudo Quantitative Strategies LP purchased a new position in KNOT Offshore Partners during the 2nd quarter worth approximately $68,000. Institutional investors and hedge funds own 26.82% of the company’s stock.

About KNOT Offshore Partners

KNOT Offshore Partners LP acquires, owns, and operates shuttle tankers under long-term charters in the North Sea and Brazil. The company provides loading, transportation, and discharge of crude oil under time charters and bareboat charters. The company was founded in 2013 and is headquartered in Aberdeen, the United Kingdom.